WP 21: Unraveling Growth Models in Peripheral Economies: Kalecki’s Political Business Cycle and Brazil’s ‘Pink Tide’ experience
This article critically examines the recent debate on growth models in Comparative Political Economy (CPE). It proposes a framework that combines the strengths of the Growth Model Perspective and the subsequent post- Keynesian criticism, arguing for an extension of Kalecki’s works influence on the growth model literature. Particularly, it refers to considering the role played by the distributive conflict within the political business cycle, as it implies articulating economic and socio-political determinants of growth models under the same theoretical basis. Focusing on Brazil’s exceptional redistributive growth experience during the Workers’ Party governments (2003–2016), the article demonstrates the applicability of the Kaleckian- based framework to understand the specificities of growth models within the broader context of the “Pink Tide” in South America. By assessing the role of distributive conflict in shaping the trajectory of Brazil’s redistributive growth model, it highlights the importance of class conflict in influencing political and economic outcomes. The findings contribute to a more nuanced understanding of growth models and suggest new analytical pathways for evaluating similar redistributive growth models in peripheral economies.
Growth models, distributive conflict, Brazilian economy, Pink Tide, Kalecki’s political business cycle, comparative political economy
E02, D30, N10